Dividends payable: preferred

4,000

Dividends payable: common

40,000

Preferred stock, 8%, $100 par

100,000

Common stock, $10 par

400,000

Additional paid-in capital on preferred stock

20,000

Additional paid-in capital on common stock

210,000

Retained earnings

270,000

Feb.

2

Paid the semiannual dividends declared on December 15, 2015.

Mar.

5

Declared a property dividend, payable to common shareholders on April 5 in Man Company bonds being held to maturity. The bonds (which have a book value of $25,000) have a current market value of $31,000.

Apr.

5

Paid the property dividend.

July

6

Declared a $4 per share semiannual cash dividend on preferred stock and a $1.10 per share semiannual dividend on common stock, to be paid on August 17.

Aug.

17

Paid the cash dividends.

Oct.

15

Declared a 2% stock dividend on common stock to be issued on December 3. The current market price is $22 per share.

Dec.

3

Issued the stock dividend.

28

Declared a $4 and $1.20 per share semiannual cash dividend on preferred and common stock, respectively, to be paid on February 15, 2017.

CHART OF ACCOUNTS

Carlyon Company

General Ledger